inoki247:
Lol anything World Bank talk just expect the opposite result.....



Fuel subsidy nd Currency unification left the group chat...

nearline:
World Bank don start. Liars. All these American businesses don go bribe dem to make dem come manipulate our politicians to open our border to flood their products into Nigeria. If dem agree pere na d opposite of wetin World Bank talk go happen. Local production go dey affected. Jobs will be lost as a matter of fact instead of being created.

nlfpmod:


https://nairametrics.com/2023/12/13/removing-import-restrictions-will-lift-about-1-3-million-nigerians-out-of-poverty-world-bank/

yinkbell:


My big brother! What Local production are you talking about?
What are we producing sir?
The Northerners are trying in the area of agriculture. Those that are making effort to ensure stable food supplies are being killed everyday by bandits and gun men.

World bank mentioned rice as Nigerian staple food. They even know the problems of Nigerians more than ourselves. They were able to evaluate the situation from afar.

How is south-south faring in terms of agricutural produce? Regions that has been degraded by oil spillage. What agricutural produce will germinate well in degraded environment?
Food is not the only thing we are producing in this country. We have a lot of local products like cement, fashion, etc that will be affected if we start to import everything. You need to see the big picture bro. I am ashamed that we are even importing toothpicks.

What about south-west and south-east contributing in agricutural sector sir?
Everyone is all clamoring for white collar jobs.
A particular region in Ogun State; Ofada which is known for homegrown Ofada rice has become a shadow of itself.
Many farm settlements have become residential areas. Many able-bodied youths that love agriculture have all become Okada riders since government has not developed agricutural sector and makes it more appealing for youths to venture into.
We may see world bank advise as evil and manipulative , but in the real sense, it is just a placebo effect on this our present economy. While it does not totally solve poverty problem, it will definitely provide a transient solution to our economy challenges and food inflation problem.

brain54:
This one WB has been giving unsolicited advice recently...


I smell loan!

nlfpmod:


https://nairametrics.com/2023/12/13/removing-import-restrictions-will-lift-about-1-3-million-nigerians-out-of-poverty-world-bank/

yinkbell:


My big brother! What Local production are you talking about?
What are we producing sir?
The Northerners are trying in the area of agriculture. Those that are making effort to ensure stable food supplies are being killed everyday by bandits and gun men.

World bank mentioned rice as Nigerian staple food. They even know the problems of Nigerians more than ourselves. They were able to evaluate the situation from afar.

How is south-south faring in terms of agricutural produce? Regions that has been degraded by oil spillage. What agricutural produce will germinate well in degraded environment?

What about south-west and south-east contributing in agricutural sector sir?
Everyone is all clamoring for white collar jobs.
A particular region in Ogun State; Ofada which is known for homegrown Ofada rice has become a shadow of itself.
Many farm settlements have become residential areas. Many able-bodied youths that love agriculture have all become Okada riders since government has not developed agricutural sector and makes it more appealing for youths to venture into.
We may see world bank advise as evil and manipulative , but in the real sense, it is just a placebo effect on this our present economy. While it does not totally solve poverty problem, it will definitely provide a transient solution to our economy challenges and food inflation problem.

Dpharisee:
World Bank and IMF have done enormous damage to Nigeria already.
Igbos do better in economy solely because they believe in Home Grown Economics and not Brettonwood institutions advice, imagine how good they have become to a point that Harvard now have a course called "Igbo Apprenticeship Programme" most self made Yoruba and Igbo billionaires did not get a degree nor study Economics textbooks written by British people, they learnt from their relatives or other kinsmen doing well in business in their local communities.

Meanwhile, you can observe that most Economics Professors in Nigeria are still dependent on salaries and begging FG to pay them for the months that ASUU declared strike action.

Meanwhile, Burkina Faso leader Ibrahim Traore sent people to Rwanda to understudy what they did to become the cleanest country in Africa and having the best policing in Africa while Nigeria Minister of Trade and Industry just announced that she is planning a trip to Switzerland with N1B which shocked Oshiomole into telling her to sit down in her office and work for Nigeria.

My point is that the help we are seeking from World Bank is here with us but we prefer to look at the skin colour of the person passing the message

vikstandon:
Don't you think that World Bank aims to undermine Nigeria in the end? A country without specific restrictions on imported goods would face a significant downturn. The intentions of these individuals controlling World Bank towards Africa are not positive.

inoki247:



Lol you don't have to be in Govt before you shortchange the system all the Policies av loopholes even if you bring it from Harvard the citizens will detect the loopholes...


I remember when people are approaching Banks for Forex for Raw material after taking it they will take the Forex to Black Market and jus make Profit through that route....


Nigeria Govt didn't av people that would enforce the policies if someone is arrested for infraction with just phone calls he or she will be released or if he or she is ready to part way with some money to the Law enforcement agency.....


Both the Law enforcer and the citizens are corrupt....

InvertedHammer:
/
They have Ph.Ds from the best institutions in the world.
They have intimidating CVs.
They parade themselves as Economists of repute by will depend on advise from USA on how to run their local economy.
They don't pioneer squat. It is always copy and paste all the way to our system of government.

Who did this to black people especially Nigerians? It may seem that their brains shut down as soon as they enter the
Nigerian space. The country has turned out to be an organized chaos.

/

Mccullum:


You're some how right but the reasons for Nigerian officials travelling to Western countries is because of monies they'll get out of the deal. Going to Africa won't permit to steal up to their expectation.

nearline:

I totally understand your points and you are very right in the points you have made. So right in fact that it is hard for me to make a counterpoint. We really have failed to develop our own economy by locally producing enough or maybe anything at all in some cases.

Cmeo:


When we were about getting out of SAP, they sold Monetization to us and turned everything that we used to enjoy for free to money and take out our resources by paying pittance . Everyone is now worried and overworked to make the money we couldn't print at our convenient time. This advise from World Bank is another one that is aimed at finishing us completely.

grandstar:


Your understanding of economics is poor.

First, monetization was sold to the OBJ by Soludo and not the World Bank. The FG was spending huge sums of money managing civil servants quarters, their drivers and so on. You can be sure it was a very wasteful and expensive. By monetizing their housing and other things, this trimmed down waste and excessive spending.

Or what would you prepare: for government to provide 25m to renovate the government owned 4 bedroom duplex allocated to a civil servant or to give the civil servant 2m a year as housing allowance Or the civil servant has an official car and driver. How much do you think they will spend on buying a new car and managing it? One just has to take a look at the senators and legislators to know how much is wasted. It is best the civil servants are given transport allowance instead. You'd be surprised many will sack the driver and prefer to drive themselves to work with their tokunbo car, even if it is End of Discussion.

What do you mean by coming out of SAP? Babangida poorly implemented SAP. One of the foundation of a Structural Adjustment Policy is for budget deficits to below 2% or for the the budget to balance. The government did the very opposite and had huge budget deficits and printed money. The printing of money was what caused the high inflation during the Babangida years and the persistent depreciation of the Naira.

I don's understand you people. The same advise World Bank will give you is no different from what Pat Utomi will recommend. The same advise

Also, many who work in the World Bank and IMF are from Third world nations. Okonjo-Iweala was a former high-up in the World Bank. President Quattara of Ivory Coast was formerly with the IMF.

Was it not during the era of Okonjo Iweala that the nation accumulated $20bn in the excess crude fund, paid of $30bn in foreign debt and left $60bn in the foreign reserves, probably the highest ever on record? She was fortunate to have a listening president as well.

CodeTemplar:

Same Iweala couldn't override the lack of political will to of Jonathan regime to help swell the ECA.
I must also add that same Iweala demanded to be paid in dollars under Obasañjo only to later cry out about dollarization of local economy under GEJ when things started going south.

They are all humans with western brains at the end of the day. Why isn't the west getting rid of subsidy and welfare or advise from IMF to?

Dpharisee:
World Bank and IMF have done enormous damage to Nigeria already.
Igbos do better in economy solely because they believe in Home Grown Economics and not Brettonwood institutions advice, imagine how good they have become to a point that Harvard now have a course called "Igbo Apprenticeship Programme" most self made Yoruba and Igbo billionaires did not get a degree nor study Economics textbooks written by British people, they learnt from their relatives or other kinsmen doing well in business in their local communities.

Meanwhile, you can observe that most Economics Professors in Nigeria are still dependent on salaries and begging FG to pay them for the months that ASUU declared strike action.

Meanwhile, Burkina Faso leader Ibrahim Traore sent people to Rwanda to understudy what they did to become the cleanest country in Africa and having the best policing in Africa while Nigeria Minister of Trade and Industry just announced that she is planning a trip to Switzerland with N1B which shocked Oshiomole into telling her to sit down in her office and work for Nigeria.

My point is that the help we are seeking from World Bank is here with us but we prefer to look at the skin colour of the person passing the message